Virginia Deed in Lieu of Prior Deed to Correctly Identify the Amount of Interest intended to Be Conveyed

State:
Multi-State
Control #:
US-OG-051
Format:
Word; 
Rich Text
Instant download

Description

This form addresses the situation where a deed has been granted, only to determine that the interest described in the deed was incorrect. Rather than executing and delivering another deed, which may give rise to the question of whether there were two deeds, this form serves to convey the corrected interest and specifies that it is in lieu of the previously delivered deed.

How to fill out Deed In Lieu Of Prior Deed To Correctly Identify The Amount Of Interest Intended To Be Conveyed?

Finding the right legitimate record format can be quite a struggle. Needless to say, there are tons of web templates available on the Internet, but how will you get the legitimate form you want? Take advantage of the US Legal Forms site. The service provides a huge number of web templates, including the Virginia Deed in Lieu of Prior Deed to Correctly Identify the Amount of Interest intended to Be Conveyed, which can be used for enterprise and personal needs. All the forms are checked out by professionals and meet state and federal needs.

If you are currently authorized, log in in your accounts and then click the Acquire switch to have the Virginia Deed in Lieu of Prior Deed to Correctly Identify the Amount of Interest intended to Be Conveyed. Make use of your accounts to search through the legitimate forms you have ordered previously. Visit the My Forms tab of your accounts and have one more duplicate from the record you want.

If you are a whole new customer of US Legal Forms, allow me to share simple directions that you should adhere to:

  • First, make certain you have selected the proper form for the area/county. You are able to check out the form making use of the Review switch and browse the form information to ensure this is basically the right one for you.
  • If the form does not meet your requirements, make use of the Seach area to discover the correct form.
  • When you are positive that the form would work, click on the Acquire now switch to have the form.
  • Opt for the costs program you would like and type in the needed information. Design your accounts and pay money for the order with your PayPal accounts or charge card.
  • Opt for the file structure and obtain the legitimate record format in your gadget.
  • Comprehensive, modify and printing and indicator the received Virginia Deed in Lieu of Prior Deed to Correctly Identify the Amount of Interest intended to Be Conveyed.

US Legal Forms will be the greatest local library of legitimate forms in which you will find a variety of record web templates. Take advantage of the service to obtain professionally-created files that adhere to status needs.

Form popularity

FAQ

Disadvantages of a deed in lieu of foreclosure You will have to surrender your home sooner. You may not pursue alternative mortgage relief options, like a loan modification, that could be a better option. You'll likely lose any equity in the property you might have.

Also, in a deed, we need to have what's called the granting clause, which would be words of conveyance or transfer. Proper wording would be something like, ?I the seller, hereby convey and warrant this property to the buyer.? That would be sufficient words of conveyance.

Commonly referred to as the ?Granting Clause?, it identifies the grantor and grantee, and states that the property is being transferred between the two parties. Defines the interest or estate being conveyed and must agree with the words in the granting clause.

A quitclaim deed is a deed by which a grantor transfers only the interest the grantor has at the time the conveyance is executed.

Disadvantages to Lender A lender should also hesitate before accepting a lieu deed where there are outstanding subordinate liens or judgments against the property. In such a situation, the lender will have to foreclose its mortgage, with the attendant expense and time involved to obtain clear title.

A habendum clause is section of a contract that deals with rights, interests, and other aspects of ownership given to one of the parties in land deals. In real estate leases, the habendum clause deals with the lessee's rights and interests.

At the end of the description, the deed will contain a ?being clause? which typically reads as follows: Being the same premises conveyed to the grantors by deed dated _______________ and recorded in Hampden County Registry of Deeds Book _________, Page __________.

Trusted and secure by over 3 million people of the world’s leading companies

Virginia Deed in Lieu of Prior Deed to Correctly Identify the Amount of Interest intended to Be Conveyed